Kelly Tyko, USA TODAY
Published 2:01 p.m. ET May 26, 2020 | Updated 2:27 p.m. ET May 26, 2020
Pier 1 will close nearly half of its stores. Macy’s will close about a fifth of its locations over three years. J.C. Penney will close six stores.
The chain announced Tuesday that its new Linden Street bedding brand is now available online and is “a significant enhancement to its home merchandise division.”
In a news release, the company said the new bedding collection “represents a fresh beginning for the new home private brand, supporting the Company’s commitment to returning fashion, quality and value to the home.”
The sheet sets start at $40, and quilts and comforters range from $90 to $220.
Coronavirus relief: Allstate to extend customer refunds for insurance policies through June
“We are excited to offer this new bedding collection as customers look to create a comfortable retreat with high-quality, inviting styles they can cherish for seasons to come,” said Stacey Shively, J.C. Penney senior vice president and general merchandise manager of the home division, in the release.
J.C. Penney said that before COVID-19 that it had made “meaningful progress on its Plan for Renewal,” the company’s transformation strategy “to improve gross margin, reduce inventory, eliminate inefficient spending, and design an engaging, inspiring shopping experience.”
One part of the strategy is to “offer compelling merchandise.”
Last week, J.C. Penney said in a document filed with the Securities and Exchanges Commission that it planned to close 242 of its 846 stores as part of bankruptcy.
COVID-19 has hit retailers who were already in debt harder than others. Pier 1 has announced that it will shuttered all stores in bankruptcy, a move spurred by the pandemic. Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada this year.
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
Read or Share this story: https://www.usatoday.com/story/money/2020/05/26/jcpenney-bankruptcy-store-closures-new-linden-street-brand/5259693002/
Real Life. Real News. Real Voices
Help us tell more of the stories that matterBecome a founding member
Subscribe to the newsletter news
We hate SPAM and promise to keep your email address safe